Bharti Airtel hits new high
Bharti Airtel, which had closed yesterday at Rs.765.40, opened lower today at Rs.762.55 but after mid-morning started climbing up and went on to hit a new high at Rs.808.85.
Starting tomorrow, the company will be launching its 5G services and this rise is in celebration for that.
As per a report in Business Standard, 5G services in India is anticipated to be in the range of Rs 580 –1,300 billion by calendar year 2027 (CY27), across connectivity and enterprise market.
Another report by a fund house said that for the 5G it will use existing 4G infrastructure along with 3.5GHz of midband spectrum (acquired recently). And this will obviously result in lower operating cost and better utilization of existing assets.
These reports were there yesterday too and day before also; its just that the moods on Dalal Street have become better and that has led to this reaction on the stocks counter today.